What is the ideal credit score?

[Squantum]

Re: What is the ideal credit score?

That is treu. Just last week someone came on this forum and said she had lost a job she had applied for, because her credit score was low.

Exactly. My main point is that you can have an excellent credit score and have zero debt. In fact, it is increasingly important/beneficial to have a good credit score. A good credit score should not be regarded as an "I love debt" score. That is just ridiculous.

[Ima saver]

Re: What is the ideal credit score?

That is just what I plan to do. Have an excellent credit score and zero debt!

[scfr]

Re: What is the ideal credit score?

Exactly. My main point is that you can have an excellent credit score and have zero debt. In fact, it is increasingly important/beneficial to have a good credit score. A good credit score should not be regarded as an "I love debt" score. That is just ridiculous.

After we paid off our mortgage, my credit score dropped 63 points, and my rating which had been "Excellent" for over a decade dropped to "Fair." I realize that "Fair" is not the end of the world, especially since I'm not worried about interest rates on loans anymore, but it does mean that I no longer qualify for the good credit rating discount on my auto insurance. You do need to maintain a certain amount of credit to have an optimum credit score. It is called a "credit" score after all. You just have to decide what's most important to you. For me, the trade off of having the mortgage paid off is worth it.